FMR Fairmont Resources (delisted)

Fairmont Resources Inc. (TSX VENTURE:FMR) ("Fairmont") is pleased to announce
that it has signed a binding Letter of Intent (LOI) with two prospectors to
acquire a 100% Interest in the Buttercup Property (the "Property"). In
consideration of the right to negotiate a definitive agreement, Fairmont has
agreed to pay up to $50,000 of certain professional service and government fees
related to the Property.


Proposed Terms of Definitive Agreement

Upon Fairmont completing satisfactory due diligence, the parties will enter into
a definitive agreement whereby Fairmont will have the right to acquire a 100% of
the Property. To acquire the Property, Fairmont will be required to issue
1,000,000 shares within 5 days of the TSX Venture Exchange's ("TSXV") final
approval. Fairmont will also be required to spend $150,000 in cash payments,
with $50,000 to be paid within 60 days of Fairmont receiving final permits to
conduct commercial production, and $100,000 on the commencement of commercial
production. Additionally, net profits for the first $3 million in proceeds are
to be split 80% (Vendors) and 20% (Fairmont), thereafter the net profits shall
be split 95% (Fairmont) and 5% (Vendors). In the event that the vendors do not
receive proceeds totaling $3 million prior to the 6th anniversary of the
definitive agreement, then Fairmont shall issue up to a maximum 20 million
shares based on standard dilution pro rata to top up what the vendors received
prior to the 6th anniversary. If commercial production does not occur within 3
years of entering into the definitive agreement, the Property will revert back
to the Vendors.


This transaction is subject to the finalization of the terms of the definitive
agreement and the approval of the TSX Venture Exchange.


Buttercup Ilmenite-Magnetite Property

The 28 claims Buttercup property are located thirty kilometres north of
Chicoutimi Quebec and twelve kilometres south of the recently acquired Lac Elan
claims. In 1964 the Bersimis Mining Company, calculated a historical "drilled
indicated tonnage" on lens "A" and lens "B" located within the Property (Table
1.). Both lenses where drill tested were shallower than 30m below surface. 


Table 1. Historic "drilled indicated tonnage"



----------------------------------------------------------------------------
                                                                   Number of
Lense               Tons        Fe (%)     TiO2 (%)     V2O5 (%)       Holes
----------------------------------------------------------------------------
A              2,779,285        48.40        18.90         0.67            8
----------------------------------------------------------------------------
B                758,828        49.39        19.07         0.64           12
----------------------------------------------------------------------------



Source: P. J. Goldsmith 1964 Report on: The Bersimis Mining Company, Report on
Diamond Drilling Program Lake Kanekatshonanuts Tintaniferous Megnetitte Deposits


The historical "drilled indicated tonnage" cited above is mentioned for
historical purposes only and uses terminology not compliant with current NI
43-101 reporting standards. The reliability of these historical estimates is
unknown but considered relevant by Fairmont as it represents significant targets
for future exploration. The qualified person has not reviewed all pertinent
original documents or done sufficient work to classify the historical estimate
as a current mineral resource and Fairmont is not treating this historical
estimate as a current mineral resource. Historical "drilled indicated tonnage"
is not equivalent to mineral reserves or resources as it is not supported by at
least a preliminary feasibility study. In order to verify this as a current
estimate, Fairmont will need to conduct additional exploration work in the form
of diamond drilling to verify the historic data.


Lac Elan Property

Fairmont is also pleased to announce that it has obtained TSX Venture Exchange
acceptance of its option agreement with Elanore Resources Inc. to acquire a 100%
interest in the Lac Elan Property. In accordance with the terms of the option
agreement, Fairmont issued 1,000,000 common shares to Elanore Resources Inc. and
will be required to incur $100,000 of exploration expenditures by the second
anniversary.


Fairmont also issued 100,000 common shares to a finder in connection with the
transaction.


About Fairmont

Fairmont is a mineral exploration company focused on exploration and development
in Canada. Fairmont currently holds an option to acquire a 100% interest in the
Marmion South Property, a 100% interest in the Lac Elan Property and a 100%
interest in the Houghton Lake Property. The Marmion South Property and the
Houghton Lake Property are located in Northwestern Ontario, and the Lac Elan
Property is located near Saguenay, Quebec.


Neil Pettigrew, M.Sc., P.Geo., Director of Fairmont Resources Inc. and the
Company's Qualified Person as defined by NI 43-101, has reviewed and approved
the technical information in this press release.


Forward-Looking Statements

Information set forth in this news release contains forward-looking statements
that are based on assumptions as of the date of this news release. These
statements reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. Fairmont cautions
that all forward-looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are
beyond Fairmont's control. Such factors include, among other things: risks and
uncertainties relating to Fairmont's exploration program of its mineral
properties, Fairmont's ability to finalize the definitive agreement, implement
its exploration program on the Lac Elan Property and Fairmont's limited
operating history. Accordingly, actual and future events, conditions and results
may differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. Except as required
under applicable securities legislation, Fairmont undertakes no obligation to
publicly update or revise forward-looking information.


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Fairmont Resources Inc.
Michael A. Dehn
President and CEO
647-477-2382
michael@avantimac.com


Rain Communications
Ralph Biggar
Direct: 604-306-2525
info@raincommunications.ca

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